Economic Systems

Front

The four types of economic systems are: Traditional, Command, Mixed, & Market, Traditional, Command, Combined, & Market, Communism, Capitalism, Free Market, and Macroeconomics, Microeconomics, Macroeconomics, Individual, and Traditional.

Back

Traditional, Command, Mixed, & Market

Front

Which economy is dictated by supply and demand and the buyers and sellers?

Back

Market

Front

A command economy is when the government is in control.

Back

True

Front

What is an economic system where only the government makes the economic decisions?

Back

command economy

Front

Which of the following is an economic system in which economic decisions are made according to social roles & culture? Options: Market economy, Command economy, Traditional economy, Mixed economy

Back

Traditional economy

Front

Which of the following is an economic system in which the government regulates SOME parts of the economy? Market economy, Command economy, Traditional economy, Mixed economy

Back

Mixed economy

Front

What type of economy do most countries in the world have? Options: Market economy, Command economy, Traditional economy, Mixed economy

Back

Mixed economy

Front

Which government would most likely have a command economy? Options: Anarchy, Dictatorship, Republic, Direct Democracy

Back

Dictatorship

Front

Which of the following is NOT one of the three basic questions of economics when looking at economic systems? Options: What goods and services will be produced?, What is the price of the goods?, Who is responsible for producing goods and services?, How will goods and services be distributed to customers?

Back

What is the price of the goods?

Front

In the economy of the Bushmen of the Kalahari Desert, the people follow the examples of their ancestors. This is what kind of economy? Options: Traditional, Market, Command, Centrally planned

Back

Traditional